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Discussion Leader:

Susan Smith manages her own firm specializing in tax planning for individuals and business owners and is also a frequent speaker at tax conferences. Smith was a Senior Manager in the tax departments of Price Waterhouse and Peat Marwick (the predecessor of KPMG). While at Price Waterhouse, she also held the national specialist designation for the real estate and partnership tax practices. During her time at Peat Marwick, Smith led the real estate and tax practices locally. She was an associate adjunct professor at Widener University in the master's taxation program. Her ratings have consistently exceeded 4.7 on a scale of 5.0. Smith is a two-time recipient of the James L. McCoy Discussion Leader of the Year Award for excellence in teaching. Smith earned her Bachelor of Business Administration degree with an accounting concentration, from the University of Toledo.

Full Description

LATE REGISTRATION POLICY
For registrations received less than 21 days from the course date will be charged a late fee of $50 for each 8 hour course and $25 for each 4 hour course and $12.50 for each 2 hour course.

The purpose of this course is to provide an in-depth discussion of selected advanced-level issues affecting LLCs and LLPs.

Major Topics:
- Partnership losses: when are they deductible?
- Death or retirement of a member or partner -- Understanding the alternatives
- Continuation and termination in the context of a merger or acquisition
- Sales of an LLC interest -- holding period and hot asset issues
- Tax Cuts and Jobs Act of 2017

Learning Objectives:
- Identify the limitations on an investors ability to deduct LLC losses
- Discuss the tax consequences of a liquidation of a partners interest
- Describe the options when a partnership terminates or continues following an acquisition or merger
- Explain the tax consequences of a sale of an interest and distinguish such consequences from the tax consequences when a partnership or LLC is acquired or merges into another LLC or partnership

Designed For: CPAs with clients using the LLC or LLP structure who need to understand advanced issues, problems, and planning strategies

CPE Credits: 4, Taxation

Level of Knowledge: Advanced

Prerequisite: A beginning course in LLCs/partnerships; experience with LLC/partnership clients